Capitec Bank, one of South Africa’s largest retail lenders, is backed by a powerful group of shareholders controlling a combined $12.3 billion worth of shares, underscoring strong institutional and founder confidence in the bank’s long-term growth.
Founded more than two decades ago by Michiel Le Roux, alongside Jannie Mouton and Riaan Stassen, Capitec has evolved into one of Africa’s most successful banking brands.
With 856 branches and 7,436 ATMs, the bank serves millions of customers and offers transactional banking, credit facilities, term loans and credit cards.
Capitec delivered a standout performance in its 2023 fiscal year, posting profits exceeding $500 million, further cementing its status as a dominant force in South Africa’s banking sector.
Below are the largest shareholders in Capitec Bank, ranked according to portfolio value by Shore Africa:
1. Government Employees Pension Fund
Portfolio in Capitec: $4.97 billion
Holdings: 15.56-percent stake
The Government Employees Pension Fund (GEPF) is South Africa’s largest defined benefit pension fund, established in 1996 to manage pensions and benefits for government employees. With over 1.2 million active members and over 375,000 beneficiaries, it is a major African fund that guarantees retirement income based on service years and salary. Its portfolio in capitec which is 15.56% stake is currently worth R79.47 billion ($4.97 billion).
2. Michiel Le Roux
Portfolio in Capitec: $3.62 billion
Holdings: 11.34-percent stake or 13,164,393 ordinary shares
South African billionaire banker Michiel le Roux founded Capitec Bank in 2001 and owns a 11.34-percent stake. Roux served as chairman of the board of Capitec from 2007 to 2016 and continues to serve as a board member. Le roux’s 11.34% stake is presently worth R57.92 billion ($3.62 billion).
3. Tshepo Mahloele
Portfolio in Capitec: $2.06 billion
Holdings: 6.59-percent
Tshepo Mahloele, the presiding chairman and founder of Lebashe Investment Holding Group, a 100-percent Black-owned investment holding firm, holds a 6.59-percent indirect stake, translating to 7,654,840 ordinary shares in Capitec Bank through Lebashe. Mahloele’s nearly 7% stake is currently worth R34.35 billion ($2.06 billion).
4. Jannie Mouton
Portfolio in Capitec: $1.63 billion
Holdings: 5.10-percent stake or 5,917,727 shares
Mouton is renowned for co-founding Capitec Bank with Michiel Le Roux, and Riaan Stassen. He presently owns a 5.10-percent stake in Capitec Bank, equivalent to 5,917,727 shares, through his Jf Mouton Familietrust. This is currently worth R26.04 billion ($1.63 billion) as of report writing.
